Share trading of Far East Knitting & Dyeing Industries Ltd (FEKDIL) will commence at the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) today (Thursday) under 'N' category, officials said.
Far East Knitting & Dyeing is the 34th listed company under the 'textile' sector in the Dhaka bourse while it is the 30th listed firm in the CSE under the 'textile & clothing' sector.
The DSE trading code for the company is "FEKDIL" and DSE company code is 17462 while CSE scrip Id is 12050 and scrip code is 'FEKDIL'. A market lot is 200 shares.
The stock market regulator - Bangladesh Securities and Exchange Commission (BSEC) approved the initial public offering (IPO) of the company on March 25, this year to raise Tk 675 million from public.
The IPO subscription of the company was held on June 15 to June 19 for resident Bangladeshis while it was continued till June 28 for Non-resident Bangladeshis.
The company received around 6 times higher IPO subscription against its demand offer. IPO lottery was held on July 17, this year.
Using the fixed price method, the company floated 25 million ordinary shares at an offer price of Tk 27, including a premium of Tk 17 for each share.
The funds that collected from the capital market through IPO will be used for the purpose of balancing, modernisation, rehabilitation and expansion (BMRE) and repayment of term loans.
The company has reported its profit after tax Tk 107.44 million and basic EPS Tk 1.18 for the three months (January-March, 2014) as against profit after tax of Tk 56.28 million and basic EPS of Tk 0.62 for the same period of the previous year.
However, considering Post-IPO 116,030,800 number of shares the company's basic EPS for the three months ended on 31 March 2014 would be Tk 0.93.
For the nine months (July 2013 to March 2014), the company reported profit after tax Tk 186.03 million and basic EPS Tk 2.04 as against profit after tax of Tk 183.52 million and basic EPS of Tk 2.02 for the same period of the previous year.
However, considering Post-IPO 116,030,800 number of shares, company's basic EPS would be Tk 1.60 for 9 (nine) months ended on 31 March 2014 (July 2013 to March 2014) and NAV per share would be Tk 22.39 as on 31 March 2014.
The IDLC Investments Limited acted as the issue manager of Far East Knitting and Dyeing IPO.
